Uranium Energy (NYSEAMERICAN:UEC) Raised to Hold at Zacks Research

Key Points

• Zacks Research has upgraded Uranium Energy (NYSEAMERICAN:UEC) from a "strong sell" rating to a "hold" rating, reflecting improved analyst sentiment towards the stock.
• Institutional investors now own 62.28% of Uranium Energy's stock, indicating increased confidence and investment in the company.
• The stock currently has an average consensus rating of "Buy" with a price target of $10.97, showing potential for further price appreciation.

Uranium Energy (NYSEAMERICAN:UEC - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

A number of other analysts have also commented on UEC. BMO Capital Markets started coverage on shares of Uranium Energy in a research report on Tuesday, June 3rd. They issued an "outperform" rating and a $7.75 price objective on the stock. TD Securities boosted their price target on shares of Uranium Energy from $8.00 to $13.00 and gave the stock a "buy" rating in a research report on Friday, August 15th. The Goldman Sachs Group upgraded Uranium Energy to a "strong-buy" rating in a report on Tuesday, August 12th. HC Wainwright upped their target price on Uranium Energy from $12.25 to $12.75 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Finally, Roth Capital increased their price target on Uranium Energy from $10.50 to $11.50 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Uranium Energy presently has an average rating of "Buy" and a consensus price target of $10.97.

Uranium Energy Stock Performance

Shares of Uranium Energy stock opened at $13.85 on Monday. The firm has a market cap of $6.15 billion, a PE ratio of -81.47 and a beta of 1.42. The business's 50 day simple moving average is $10.36 and its 200 day simple moving average is $7.26. Uranium Energy has a 52-week low of $3.85 and a 52-week high of $13.91.

Insider Buying and Selling at Uranium Energy

In related news, Director David Kong sold 50,800 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $9.62, for a total value of $488,696.00. Following the sale, the director owned 182,237 shares in the company, valued at approximately $1,753,119.94. This represents a 21.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On Uranium Energy

Several institutional investors and hedge funds have recently modified their holdings of UEC. Versant Capital Management Inc acquired a new stake in shares of Uranium Energy during the 1st quarter worth about $27,000. IFP Advisors Inc grew its stake in Uranium Energy by 732.8% in the 2nd quarter. IFP Advisors Inc now owns 3,981 shares of the basic materials company's stock valued at $27,000 after buying an additional 3,503 shares during the last quarter. Operose Advisors LLC bought a new position in Uranium Energy in the 2nd quarter valued at about $34,000. Farther Finance Advisors LLC lifted its position in Uranium Energy by 43.5% during the first quarter. Farther Finance Advisors LLC now owns 7,801 shares of the basic materials company's stock worth $36,000 after acquiring an additional 2,364 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Uranium Energy during the first quarter worth approximately $36,000. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Uranium Energy Company Profile

Uranium Energy Corp., together with its subsidiaries, engages in exploration, pre-extraction, extraction, and processing uranium and titanium concentrates in the United States, Canada, and Paraguay. It owns interests in the Palangana mine, Goliad, Burke Hollow, Longhorn, and Salvo projects located in Texas; Anderson, Workman Creek, and Los Cuatros projects situated in Arizona; Dalton Pass and C de Baca project located in New Mexico; Roughrider, Shea Creek, Christie Lake, Horseshoe-Raven, Hidden Bay, Diabase, West Bear, JCU, and other project located in Canada; and Yuty, Oviedo, and Alto Paraná titanium projects in Paraguay.

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